GreenChoice Bank

About GreenChoice Bank

GreenChoice Bank is a community bank with a mission of sustainability that flows through every part of the business—from their choices about location, to how they design the back office and their policies, to how they offer products and services that reward customers for their “green” choices. GreenChoice's mission is to support their clients and communities through a contemporary approach to banking that emphasizes the “triple bottom line” and promotes greater responsibility within the communities that they serve.

We became a B Corporation to show our support for the values it represents, including transparency and supporting environmental and social performance standards. As we continue on our shared journey towards a more sustainable future for the banking industry, we want to work together with the rest of the community to develop a proper set of standards and goals for other businesses to strive for and hold ourselves to those same standards.

At their core, GreenChoice Bank is a community bank, with all of the products and services you expect to see at your local financial institution, but with a “green” and sustainable mission that has informed each and every aspect of the Bank’s organization, structure, products and processes. Above all, GreenChoice Bank focuses on supporting the local community, fostering green collar job creation and growth, and improving the sustainable business economy in the areas that they serve. Through these efforts, they provide Chicagoans with the opportunity to make a values-based choice regarding where they bank.

The Change We Seek®

We believe in supporting our communities to enable economic prosperity while promoting environmental and social responsibility, both for ourselves and for our customers.

We are trying to promote a new approach to banking by setting up our operations as sustainably as possible, including leveraging technology to minimize our physical footprint and create as paperless an operation as possible.

In addition to the traditional products one expects from a community bank, we are developing a set of advantaged loan and deposit products that reward our customers for their “green” choices. This includes, among other things, better rates for depositors who opt out of paper statements, or better terms for green builders who are incorporating sustainability into their properties.

Our employee policies encourage sustainable choices including using public transportation to get to work and volunteering in the community, as well as rewarding those who choose to purchase hybrid or other Low Emission Fuel Efficient (LEFE) vehicles. Our staff believe in our mission and are knowledgable about sustainability; 50% of our senior management team are LEED Accredited Professionals (LEED AP).

We are building a community by creating connections between customers and other members of the sustainable business community to further the local and green economy

GreenChoice Bank

Bookmark and Share

Summary:

Certified: August 2009
  Points Earned % Points Available
Accountability » 17.7 92%
Employees » 40.2 76%
Consumers » 19.3 40%
Community » 22 37%
Environment » 14.6 76%
Composite B Score 113.8
  • >80 out of 200 is eligible for certification
  • >60% points available = Area of excellence

Highlights:

From B Impact Assessment

Environment: >51% recycled office supplies; all facilities LEED certified; incentives in place to encourage employee carpooling or use of public transportation to commute

Employees: all employees paid living wage; >50% of individual/family health insurance premiums covered; employees always included in strategic management decisions; 100% reimbursement for Continuing Education; +4 weeks vacation; 2 weeks paid paternity leave

Community: >20% of expenditures directed toward local suppliers; >50% of customers are local; >50% of employees take time off for community service; >10% of net profits given to charitable organizations

News

• GreenChoice Bank Company Press Page Go»